TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Grayscale watches these six assets for gains in Q4 2024, predicts significant risk event for crypto

  • Grayscale adds SUI, TAO, OP, HNT, CELO, and UMA to its updated list of the top 20 cryptocurrencies for Q4. 
  • The assets in the top 20 have high price volatility and are considered high risk by the asset management giant. 
  • The US election poses a significant risk for crypto according to the giant’s recently published report. 
Grayscale watches these six assets for gains in Q4 2024, predicts significant risk event for crypto
Ekta MouryaEkta MouryaFXStreet

Grayscale introduced six new cryptocurrencies to its Top 20 cryptocurrencies watchlist on September 26. The asset management giant published its report to highlight promising sectors within crypto for Q4 2024. 

Bitcoin and Ethereum outperform the Crypto Sectors Market Index 

Bitcoin and Ethereum, the top two cryptocurrencies by market capitalization maintain their lead by outperforming the Crypto Sectors Market Index (CSMI), per Grayscale’s Research Insights: Crypto Sectors in Q4 2024, published on September 26. 

The report outlines the performance of altcoins, alongside the top two crypto assets. Notable sectors are decentralized Artificial Intelligence (AI) platforms like Bittensor TAO, tokenization of Real World Assets (RWA) projects that include Ondo Finance (ONDO), OM and GFI. Meme coins like Pepe (PEPE), Dogwifhat (WIF), and Floki (FLOKI) led gains in the sector. 

Crypto sectors

Crypto Sectors performance

The asset management giant added six new assets to the list, 

  • Sui (SUI): A high-performance Layer 1 smart contract blockchain
  • Bittensor (TAO): An AI project building a platform to facilitate the development of open and global AI systems 
  • Optimism (OP): An Ethereum Layer 2 chain
  • Helium (HNT): A Solana-based decentralized wireless network 
  • Celo (CELO): A mobile-first blockchain project with a plan to transition to an Ethereum Layer 2 payments network
  • UMA Protocol (UMA): An optimistic oracle network providing services to one of the largest crypto prediction markets, Polymarket

Grayscale notes in its report that the US Presidential election could pose significant risks for the cryptocurrency industry. The asset management giant highlights how former US President Donald Trump prepares to embrace crypto as an industry while Presidential candidate Kamala Harris said that her administration will encourage innovative technologies while protecting investors.

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Editor's Picks

Quant Price Forecast: QNT rally capped at key resistance poses bearish reversal risk

Quant Price Forecast: QNT rally capped at key resistance poses bearish reversal risk

Quant price is down over 4% on Wednesday, risking a drop below $250 as buying pressure eases after a more than 350% rally last month. Retail strength in the DeFi token remains mixed, with Open Interest down over 6% in the last 24 hours, while negative funding rates ease toward neutral levels.

Chainlink Price Forecast: Short-term correction in LINK risks a bearish reversal to $10

Chainlink Price Forecast: Short-term correction in LINK risks a bearish reversal to $10

Chainlink is down over 3% at press time on Wednesday, facing short-term weakness as institutional and retail demand eases. LINK-focused Exchange Traded Funds witnessed three consecutive days of zero inflows, while LINK futures Open Interest is down over 5%, suggesting a mild positional wipeout.

Top 3 Price Prediction: BTC fails to hold $85,000, ETH downside risks rise, XRP momentum fades

Top 3 Price Prediction: BTC fails to hold $85,000, ETH downside risks rise, XRP momentum fades

Bitcoin remains under pressure on Wednesday, trading below $84,100 after a 2.88% correction so far this week. Ethereum and Ripple followed in BTC’s footsteps and extended their corrections, trading below $2,620 and $1.500, respectively. Momentum indicators for these top three cryptocurrencies show signs of weakening and hint at deeper correction risk.

ZEC expands institutional momentum as Winklevoss files for Zcash ETF

ZEC expands institutional momentum as Winklevoss files for Zcash ETF

Winklevoss Asset Services, co-owned by crypto exchange Gemini founders Cameron and Tyler Winklevoss, filed a Form S-1 registration statement with the US Securities and Exchange Commission (SEC) on Tuesday for the Winklevoss Zcash (ZEC) ETF. The filing proposes a fund that would hold ZEC and seek to track its price.
Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin (BTC) extends its gains, trading near $86,000 at the time of writing on Friday after closing September 6.33% up, reversing its seasonal weakness. Historical data suggest October could be a strong month for BTC, especially after a positive September.